Petrobras Discovers ‘High Quality’ Oil in Santos Basin

Petroleo Brasileiro SA, Brazil’s state-run energy producer, said it discovered “high quality” oil in deep waters at an offshore field in the Santos Basin.
The find occurred after drilling the 3-BRSA-861-SPS well located 275 kilometers (170 miles) off the coast of Sao Paulo state, Petrobras, as the company is known, said in a regulatory filing today. The well, named Carioca Nordeste, has a water depth of 2,151 meters (7,057 feet), it said.
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Source: Bloomberg